Accenture estimates the industrial internet of things could add USD$14.2 trillion to the global economy by 2030. An amazing statement, which if true, could truly transform the industrial internet economy. But just where is the value in the Industrial Internet of Things?
Using Big Data To Identify Faults
Put simply, the value of the industrial internet is in identifying where things are going wrong and diagnosing the root cause. The gold is in the faults.
Identifying and correctly fixing faults;
- increases production,
- decreases energy consumption,
- reduces system downtime and
- lowers CO2 emissions.
Each one of these line items has significant impact on your business profitability. Having less system downtime and the ability to create more widgets, with less energy consumption and lower CO2 emissions is pure gold – injected straight into your bottom line.
So why are we waiting to 2030 to realise IIOT’s value?
It’s not easy to get to the faults and to deliver the intelligence you need to optimise your systems. Make no mistake intelligence will unlock the industrial internet, but intelligence requires high quality reliable data, something which is not readily available.
Macro trends in hardware devices are making it increasingly cost effective to instrument and collect data about the operations and energy usage of mechanical systems. However different systems name and tag the data differently plus older network topologies make data transfer a challenge. Let’s then overlay the client’s overzealous IT security policy which prevents access to much of this data.
Unlocking IIOT’s Value in 2015
Mining for the gold of the industrial internet means sifting through all these problems to find quality, reliable data and making sense of this before your systems fail. At the moment the vast majority of companies are panning reports of numerous systems, reacting to faults when they occur.
At CIM Environmental Group, instead of panning for gold like everyone else we have spent 3 years developing a data mining technology. The PEAK Platform is an Enterprise Application Integration (EAI) middleware platform, it provides device connectivity at scale, cross-communication, data brokering and storage. Our data intelligence team then make sense of the captured data by offering actionable intelligence reports through predictive computational models and a configurable rules engine. We understand the language of your systems and deliver you a report in plain english, showing you what’s needed to optimise your production.
Capitalising on the value of this data is delivering our clients efficiencies, increased productivity and cost savings that they never thought were possible. Guaranteed energy savings in commercial buildings is only the start of this gold rush. With all clients we offer a guarantee that they will save more than the price of their contract. It’s a no risk opportunity to unlock the potential of the Industrial Internet of Things.
Accenture’s has the valuation right, but don’t wait til 2030 – contact CIM and unlock the gold in 2015.